Black Girls Consult TOO!
The Black Girls Consult Too! podcast provides a business resource for women in consulting, especially women of color, to successfully navigate a hyper-masculine, highly competitive industry. It demystifies how to start and grow a thriving consulting business by simplifying the process and helping to avoid common pitfalls that can derail even the best ideas. Each episode is crafted to dive deep into consulting practice, business strategy, mindset, and more. For more information, visit www.excelatconsulting.com/podcast.
Black Girls Consult TOO!
Episode 120: Mastering Value Articulation in Consulting
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What if you could transform your business by mastering the art of articulating value? As women in the consulting industry, we often face unique challenges in adequately communicating our distinct value to potential clients. Value articulation is a vital part of standing out in your industry. Mastering this skill will attract more clients, elevate your professional standing, and increase your earning potential. In this episode, we explore strategies to help you stay ahead of industry trends and understand your client's evolving needs so that you can effectively articulate the direct benefits of your services and confidently showcase your impact to attract the clients you deserve.
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They say, the odds are stacked against us as women, especially women of color, trying to thrive in the consulting world. But rather than wait for a seat at the table that may never come, what if we build our own tables? What if we channeled our talents into guiding each other towards the success we deserve? Welcome to the Black Girls Consulting Podcast. I'm your host, dr Angelina Davis, and I've walked the path from healthcare consultant to a mentor for women like you, ambitious, unstoppable and ready to make waves in the consulting world. This podcast is your go-to spot for all things entrepreneurial consulting. For us as women, especially women of color, think of it as your weekly coffee date with a friend who's here to dish out real talk on building a solid business, elevating your thought leadership and mastering that all important mindset. And let's not forget, we're doing all of this while balancing day jobs, family life and running teams. Yes, we can do it all. So if you're ready to dive into how you can grow a thriving consultancy or get strategies and insights that actually fit your busy lifestyle, then you're in the right place. Grab your coffee, tea or, hey, even a glass of wine, I won't judge and let's get started. Hello, hello, hello. Welcome to the Black Girls Consult 2 podcast. I'm your host, dr Angelina Davis, and if you are tuning in for the first time, welcome in. This is going to be a real talk conversation about consulting, all the things consulting and anything associated with it, as well as maintaining our busy lives as women who are trying to excel in this space. But then also, if you're returning and tuning in again, welcome back Now.
Speaker 1:I have a great episode lined up for you today. But before we dive into that, let me just say it's really, really hot. Here I am in Atlanta, georgia, so deep South, and it has been hot Not just today, not just this week, but it's been hot for a little while now, really all summer, and that's very unusual for us. Usually we don't get this level of heat until August, but I was actually posting on Threads the other day that once it gets over 100, it doesn't really matter, it's all the same. Whether it's 102 or 103 or feels like 110, it is the same. It's just hot and miserable in my book. I know some people like the heat. I'm not one of those. So I hope you're staying cool this summer and enjoying vacationing or being with family or just enjoying your day-to-day work, whatever it may be that's going on right now. But enough of that. I know you didn't tune in to hear a weather report, so let's get started.
Speaker 1:Look, this episode today is one that I have been wanting to have for a while now, because we often face this one particular challenge over and over again in our business, especially when we're thinking about sales, when we think about marketing and finding clients, and that is being able to effectively articulate our value as consultants. You know we hear articulate your value. You have to articulate your value. We hear that phrase all of the time, but the question is, how do you actually do that? I mean, you know that your expertise and your skills are really valuable as a consultant. People know that being a consultant and having this knowledge is something that is useful and that's desirable. But how can you prove that just simply possessing this knowledge or this asset is enough? You know, really to truly stand out with the clients that we want to serve, we have to be able to effectively communicate our value to them in a way that really drives them to want to invest in our services. So this involves understanding your unique value proposition, communicating in a way that resonates with your clients to set you apart from your competition, and just really understanding how to convey your value in a way that helps you to build a business around your ideas.
Speaker 1:So we're going to talk about that today and dive a lot deeper, because this is the key to building trust, to being able to establish your authority and then, ultimately, for you to do what I know you want to do, which is secure high paying contracts, and many consultants struggle with this, and so we want to avoid the missed opportunities and undervaluing our services and not generating type of revenue that we need because we don't know how to articulate it. We're going to solve that problem today. So in this episode, you are going to learn how to define and articulate your value as a consultant. We're going to talk about the critical differences between actual value and perceived value, and then what I'm going to do is I'm going to lay out some actionable strategies that you can use to be able to communicate more clearly and more concisely so that it really does land and resonate with your target audience, and by the end of this episode, my goal is for you to have the tools and the insights that you need to present your value in a compelling way, so that your clients or your potential clients will recognize and appreciate the full extent of what you have to offer. So if you're interested in learning more, then stay tuned. We're about to dive in.
Speaker 1:So I want to start our discussion by first defining what it means to articulate your value, because I do feel like people say this all the time. It's almost like a catchphrase. I want to start by just giving you this example. I want you to imagine that you are shopping for a new phone. You are getting the latest iPhone update. I don't even know what number we're on right now because, to be honest with you, I'm looking at my phone. It's time to get a new one. I don't. I don't even know what version I have.
Speaker 1:Either way, think about you being in the Apple store. You're trying to update your phone. You're looking at new phones and you're trying to decide between two. You know, usually with iPhones it has like the regular and the pro or the pro max, and so you're looking at these. You know phones and they have similar features, but one actually explains how their phone or how the phone will make your life easier. Maybe you're reading everything about how it'll provide a longer battery life or it has faster performance, or, for me, it takes better pictures. All those things make it very easy for you to understand how this particular version is going to be better. And maybe the other one doesn't really spell all that out quite clearly. Maybe they offer some of the same effects or some of the same benefits and options, but one of the sales tax just goes into far more detail that is relatable and that you can understand, and so more than likely, that particular one is the one that you are more likely to buy.
Speaker 1:And the same principle and the same concept applies to us in consulting. We have to be able to share what we do in a way that people clearly understand not only what it is that we're offering, but how that affects them and impacts them. What is the benefit for them? Everything that they interpret is going to be in the context of how it's going to impact their lives. So some of the key elements of articulating our value include, of course, our unique value proposition. Remember, this is what makes you different from other consultants. Maybe you have a unique problem solving method or a deep expertise in a particular niched area. That UVP, that unique value proposition, is going to help you communicate that difference. It also involves quantifiable results.
Speaker 1:I want you to think about this as your highlight reel. You're sharing specific examples of how you've helped clients in the past. You know, for instance, you may say I've helped a client increase their sales by 30% in six months. A statement like that gives someone numbers. It gives a concrete example. It helps what you do and the results that you can provide appear and feel more tangible. And then you want to think about client benefits.
Speaker 1:This is a focus on what's in it for your clients, right? So how is your work going to help them improve their life or their business? How is it going to save them time? How is it going? Life or their business? How is it going to save them time? How is it going to boost their profits? How is it going to provide strategic insights that they can't get elsewhere? And, of course, all of this has to be packaged in a way that is clear, so that the person who is receiving the information understands what you're talking about. They have to be able to imagine all of these things happening for them, so it has to be straightforward and easy to understand. All of these elements are at play when we're talking about articulating value. It's understanding how to do these key things. That sounds more complex and complicated than it actually is.
Speaker 1:I want us to break this apart and just explore how we can do this in everyday life, and one of the things I want to share is that I want you to, as we move forward in this episode, think about articulating your value as your ability to have a conversation with a friend in a way that helps them to see and understand why you are special and they want to invite you into their lives. Right, that's what we're doing as a consultant, as an advisor, as a business, and in order for us to even begin this journey, we have to explore the difference between what is actual value and what is perceived value, because we're talking about articulating it. Right, we're talking about the communication of this information, but first we have to define what we're trying to communicate, and in reality, there is a difference between what is actually valuable and what our potential client or audience perceived as being valuable. So, in terms of actual valuable, that's truly what you offer your skills, your expertise, the results you deliver. That's value. That is value. There's no doubt about that. No-transcript, it's going to perceive those things to be valuable. Now, the thing about perceived value is that it is subjective. It's based on how your clients see you, how they see what you offer impacting their lives. So this perception is influenced by a lot of different things. It's influenced by our ability to communicate effectively. It's influenced by branding. It's influenced by branding. It's influenced by their values. It's influenced by just so many things that we may not be able to control, but we need to take into consideration.
Speaker 1:I'm gonna use a very common example. I want you to think about Target versus Walmart. Now, let's be honest, walmart is a very necessary store, right? It's the place where we can go and we find everything from tires to clothes to food. I mean, it is all under one roof. So oftentimes we're going to find ourselves somehow going to Walmart for something at some point in our lives. We usually end up at a Walmart. Also, it's going to be available and accessible in most cities, even if it's one of the little small Walmart neighborhood type setups. But now, when you think about Target, you don't find as many of them as Walmart.
Speaker 1:But there's a different perception of value between the Walmart and the Target. Now, when you walk into Target, we all joke around about how you walk out spending hundreds upon hundreds of dollars because the experience is amazing. The items are beautiful, the store is so clean, the people are friendly. Now the experience, everything that is a part of that environment and that experience of going into a Target store is what elevates its perceived value over the value of Walmart, although you can probably get the same items and oftentimes even get the items cheaper at Walmart. But that perception of value makes a difference. So even in consulting, we have to focus on this perceived value. We have to think about the perception, because that perception can outweigh our actual value and I know that can sometimes be frustrating to hear right, because we know that we have a certain level of value that we are offering, and sometimes it is high, it's exceptionally high. However, if we cannot package it in a way where it's going to be perceived that way, then we are going to run into problems. I want us to start by considering how we can impact that perception.
Speaker 1:One of the things that we can do is make a good first impression. I mean, that's just the basics. We need to make a good first impression and that comes from things such as your website, your LinkedIn profile, your initial communications that people are seeing the posts that you may make on social media. All of these things set the tone for the future communication that you're going to be providing and interactions that people have with your brand and your business. So, in terms of first impression, we want to come off as being professional, and once again, I don't want us to make the definition of professionalism so tight that we don't give ourselves the room for creativity and innovation, but we want to make sure that people can see us in a light where we're trustworthy. Right. We want to give an impression that is lasting in a positive way, and the other way that we can do this is by having others speak highly of us, and that typically comes through client testimonials and other social proof that we have, that's, someone else vouching for the fact that we are trustworthy or it's been great to work with us. Those are things that also help to change someone's perception of our business and our service.
Speaker 1:The consistency at which we're showing up just shows that we take things seriously. At which we're showing up just shows that we take things seriously. It reinforces the positive perception that they may have had from the first impression of maybe what they've heard by word of mouth, and then our brand. Let's be honest, the way that we brand ourselves matters. We want to think long and hard about how we want to show up online, on stages, in published content. We want that to really represent our values, our core values at heart. We want it to represent our beliefs, our philosophy. All of those things need to be part of the brand that we're putting out into the world, because all of these components first impressions, way others perceive us in terms of client testimonials or other word of mouth feedback our consistency, our brand all of those things help to create the perception that others have of us as consultants and as a business, and this is going to be what makes it either more or less likely for clients to engage with us. You know, I know this is sounding very academic and walking through point by point, but I want to break this down on a different level. Maybe this will make more sense.
Speaker 1:Let's talk about BlackBerry Now for you who may not remember BlackBerry, I know it's been a long while, but BlackBerry was big back in the day. I remember my husband had a BlackBerry and I was so jealous because he seemed so super professional with that little black phone with the big keyboard and everybody just had one. If you were in business, if you were doing anything that showed that you were a mover and a shaker, you had a BlackBerry. And at that point BlackBerry had the market. They were the dominant player in the smartphone market and they really were on the rise. Now, as we all know, we don't see BlackBerrys around anymore. As a matter of fact, I think they may have gotten bought out by Sprint I can't remember the whole history, don't quote me on that but they're not out there anymore. We're not running to the store to get the next BlackBerry. Of course we run out and we want the next Apple. If you're an Android girl, then you may run out and get the next, the biggest and the best Android, but you're not going and trying to seek out a BlackBerry.
Speaker 1:But BlackBerry was known for its secure email services. It had a lot of things going for it. It had the secure services, it had the physical keyboard that make it really easy for you to type, especially when you're using it as your main device as a business professional, and it really was unparalleled in terms of its security and productivity features. It was the phone. It was the man or the girl back in the day, the woman back in the day.
Speaker 1:However, when Apple came along and then Samsung also entering the market with touchscreens and broader app ecosystems, the problem was that BlackBerry didn't really adapt. It didn't change the way that it was approaching its positioning in the market. It didn't take seriously the threat that these other businesses pose to their market, to their standing in the market, and so BlackBerry's primary value, which was set around being secure and efficient communication tools, was challenged, because what consumers began to fall in love with were some of the newer innovations. Right, we wanted touch screens, we wanted a lot of apps to use on our phones so that we can have more app-driven experiences, and so, in the grand scheme of things, blackberry's perceived value diminished. Number one this is a reminder to us that the value doesn't remain the same, that we have to continue to adjust our positioning so that we can remain in line with what's actually happening in the market, in the marketplace and in the world at large or in our industry.
Speaker 1:So the company continue to emphasize security and keyboards, and you know, and that was while their competitors Apple, samsung were all focused on innovation. They were focused on the user experience, they were focused on making your phone fun and useful for business. They were just focused on you being able to use this device for any and everything in your life. And now let's just stop here. Who do you think won in your life? And now let's just stop here. Who do you think won? Of course, apple and Samsung and these other phones won because they were focused on the perception of value from the consumer's perspective, while BlackBerry was stuck on what was actual value, which really was still their actual value.
Speaker 1:However, they did not focus on how to communicate that value or even adapt their approach so that it can be in alignment with the perception of value in the market. They failed to adapt, so that's one big mistake that they made. In actuality, that caused them to lose sales, because it just didn't meet the market's expectations. The second thing is that they had inadequate messaging, like I talked about before. They weren't focused on the things that the market was focused on, while Apple and other competitors were focused on the user's experience and how easy it is to use their phone and how pretty it is to look at things on their screen and how crystal clear the visuals were and how quickly you could do work from your phone through different apps that you could download for different specific and niche needs. Blackberry didn't do any of that, so they weren't able to maintain a marketing message that really resonated, and they really ignored the fact that perceived value matters the most, and so when we're thinking about our services in the market, we have to do the things that BlackBerry did not do. We need to be able to adapt, we need to be able to effectively communicate, and we need to always remember that perception drives everything.
Speaker 1:A thriving consulting business is built on a solid business foundation and a consulting code that leads you toward your ideal business and your ideal lifestyle, and the great thing about this code is that it works for any type of consulting practice, whether you help clients with professional development, business management, grant writing, it or something entirely different. This consulting code is not rocket science and is not beyond your reach, and when you crack the code, it can jumpstart the growth of your solo consulting practice and is what you need to know to get started and land your first clients, and nothing more. This is a step-by-step process I wish I had so many years ago, and that's why I wanted to share this with you and how you can do this too. So if you're interested in starting your consulting business and creating a desirable offer to generate leads for your offer and to make sales, then the consulting code is your solution. Visit wwwexcelatconsultingcom for more information.
Speaker 1:Okay, so now let's take all this information and let's talk about how you can use your knowledge of what it means to articulate your value and to focus on the perceived value and define some actionable strategies that you can take in order to do this. Get to know your audience better. I know when you're starting any project or initiative, this is one of the first things that people will suggest that you do. The reason why that's the case is because the way that people perceive their needs changes. Their actual needs change, and so we can't assume that what we knew about our clients in the past is the same as what it is today. So we have to research. We need to find out what's going on in our industry, what's changing in our industry, what are our competitors doing, what does the market look like, what are the current trends, and then we can frame our language to speak to those needs. So, for example, if you have a client that's in the tech industry, I want you to know the latest trends in that industry. I want you to have a better understanding of what they are facing right now, in this moment, and then think about the opportunities that exist in that particular sector.
Speaker 1:So ask those questions, the same questions you asked when you started your business. What keeps them up at night? What are their top three priorities for the year? Those things are still very important questions to ask again at this point when we're beginning to map out how we're going to articulate our value. Now, the second thing is that once you have an understanding of what their needs are or what they aspire to, then you need to align your service with that need, meaning that you need to make sure that you're identifying their top priorities and then you need to figure out how your service can address those top three priorities. You need to do a matchup. It needs to be a matchup between what they need and what they aspire to and what you offer. So that may mean tailoring your message a bit, really emphasizing how your services directly address some of these concerns. So if your client is prioritizing cost savings or thinking about ways to reduce their expenses, then your articulation of value could be that you're going to help them streamline their operations to reduce their overall annual costs by 15%. That is tying what you do directly to their needs and the things that you know that they want. That's going to help you communicate a higher perceived value.
Speaker 1:And then, once you are able to do that matchup, the next thing is that you have to communicate that clearly. Listen, we don't need to beat around the bush, we don't need to not be straightforward when we're talking about this. We want to make sure that we are directly communicating exactly what we do and how we're going to do it. So we want to be specific. Instead of saying that you're going to help a business grow, I want you to go into detail. Going back to that tech company example, you need to say I'm going to help a small tech company increase their revenue by 20% through targeted marketing strategies. That is getting specific. And you want to highlight the direct benefits. What are they going to see or receive as a benefit of doing so? Right, that tie of benefits into how you are clearly communicating what you're going to do and the goals you're going to help them reach is going to make all the difference in the world.
Speaker 1:So the next step is that, in addition to communicating clearly and concisely. I want you to also tie this specificity of what you're saying and what you're saying that you're going to do, this promise that you're making, to the ability to demonstrate a clear return on investment. When you're highlighting benefits, this is the same as demonstrating clear return on investment. When you're highlighting benefits, this is the same as demonstrating clear return on investment. You're tying the intangible expertise that you offer, the thing that they can't touch, the thing that seems like just your mental notes in the air, things that people can't really grasp as being a product. You're going to make them feel more tangible and you do that by clearly demonstrating the return on investment that they can expect when they work with you. It's not only about being very clear about what you're going to do and saying exactly how you help, but it's being able to quantify those results. Can you put some numbers to it? Can you give a rate or percent of increase in lead generation? Can you specify a time period? Can you say that you're gonna achieve these things in three months or six months or 12 months? How are you able to translate skills into results? So, if they learn a skill, if you're focused on developing the skill, how does your help in developing that skill translate to the bottom line. Maybe the fact that they improve in that skill helps them reduce their project completion time by 20%. You're making that feel more tangible.
Speaker 1:Think about how you compare cost and benefits. So, for instance, if the cost of your service is outweighed by the cost of the benefit, that is the dynamic that you need and that you want. For instance, if you are saying to somebody listen, for every dollar that you invest in my services, you're going to see a $5 return on that investment. That speaks volumes, because now you're showing the value of what you're bringing to the table. Think about how you're helping them visualize the outcome. Is there a way that you can pull together visuals and charts and infographics and mock-ups so you can show them what the potential end result can be? What can it look like? Can you future pace them and put them into the can be? What can it look like? Can you future pace them and put them into the future so that they can see how they are going to benefit from what you offer and visualize it and feel that and make it more tangible, make it something that they can actually really wrap their head around. All of these things are ways that you can begin to demonstrate a clear return on investment.
Speaker 1:And when you compare, when you pair, rather, this clear return on investment with the value that you can provide, you're making a stronger case. And then we're going to put some icing on the cake. Then the icing on the cake is you being able to support this claim by evidence. So now you're not going to just rely on the fact that I'm telling you what I can do, and I'm not going to let you think that I'm making up numbers. I'm about to use data and metrics. I'm going to use client testimonials, I'm going to use case studies to show you that I've done this before. That's the icing on the cake, because now it's not just you taking my word for it, but I'm going to allow you to take other people's word for it. I'm going to allow the proof of what I've done to speak for itself. And then, when you're able to communicate all of this with confidence, that is going to help you convince somebody that what they are going to enter into in terms of a value exchange meaning what they are about to invest in so that they can receive an outcome is worth it.
Speaker 1:You're letting them know that investing in your consulting services is not just about spending money. It's about them actually gaining expertise that is going to make a difference in their lives, in their business. This is how you begin to articulate value. This is what we're talking about. This is about you talking directly to the client that you want to serve and focusing your messaging on their needs. I like to call it being very, very client-centered in your approach. And when you can become more client-centered in the way that you approach your messaging and that you're articulating your value, you are going to make more sales. You're going to convert more prospects to clients. You are going to increase lifetime value, because nine times out of 10, if you're truly adapting your processes and keeping up with the market, you are going to maintain those relationships for an extended period of time.
Speaker 1:All of this is what can happen when you are articulating your value effectively. So I'm hoping that this made a little bit more sense in terms of defining and showing how you can articulate your value in a way that helps you stand out in a competitive market, because when you're able to understand how you're different and communicate those differences in a way that shows the unique benefit and what somebody will gain when they invest in your expertise so that they can yield that result or achieve that goal. It will make all the difference in the world in your business. Now, if you're interested actually in diving deeper into this, I do have a free 10 day email course that's called the Consultant's Guide to knowing what to say and when to say it. It doesn't cover this aspect of articulating value as much, but it really does dive deeper into the messaging component of building out a message that you can use in various aspects of your business. That truly does help you to convey everything from your philosophy to your perspective, to the proof behind why you know what you know and all of those things. It helps you to convey that effectively and in a way that helps you to create a more memorable brand. So I'm going to drop that in the description so you can download that If you are interested. It really does offer a lot of practical tips on communicating more effectively and winning more clients and growing your business. So I think it's a great download.
Speaker 1:So I think you enjoy that and, as always, share this episode with a friend. If you know someone that could benefit from hearing this, pass it along and don't forget to leave your five-star review on Apple Podcasts or rating on Spotify. I would greatly appreciate it. It'll help the podcast reach more and more people. And until next time, I want you to take care and make sure that you are articulating your value and doing it often. Thank you for tuning in to the Black Girls Console 2 podcast. If you enjoyed today's episode, be sure to leave your review on Apple Podcasts, subscribe and share it with a friend. We're on a mission to increase the success and longevity of women in consulting, and you can help us do just that. Also, I'd love to hear from you, so let's connect at Dr Angelina Davis on Instagram or LinkedIn, and don't forget to visit ExcelAtC, excel at consultingcom for more information to support your consulting journey. Until next time, keep breaking glass ceiling, all right, take care.
